lauding New Delhi’s push on some key reforms, notably passage of the Goods and Services Tax (GST) legislation, the International Monetary Fund has raised India’s growth projection to 7.6 per cent for 2016-17, terming it the fastest growing nation among major economies.
In its newly-released World Economic Outlook, the IMF speaks of India’s continued strong economic recovery, benefiting from improved terms of trade, effective policy actions and stronger external buffers, all of which have helped boost sentiment.